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Use self-restraint while trading forex

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  #1  
Old 01-08-09, 07:21 PM
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Default Use self-restraint while trading forex

A good forex trader should not only follow a good forex trading strategy but also possess self-restraint. Traders who practice self-restraint know the right time to end the trade even when the situation is tempting enough to stay with the trade. They show utmost restraint while following their trading method and don’t allow the greed of making more money affect it. Therefore, it is great importance that every trader should possess and practice self-restraint in order to successful in Forex trading.

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Old 01-09-09, 01:43 AM
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Self restraint seems to be one of the problems a lot of traders in any field have, just due to the fact that it's very tempting to hit the button rather than wait for what may be a better deal. Sometimes it's just better to walk away from it for a while
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Old 01-14-09, 09:40 PM
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Does this come under Trading psychology?

A very notable part of forex trading. The leverage involved in forex trading can cause emotional swings that can affect trading decisions. We start to feel indecisive about when to take profit, or cut our losses.

One should have enough control over self and know when to stop!
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